Encrypted Email Provider Proton Launches Bitcoin Wallet, Enabling Bitcoin Transfers via Email

Proton, the encrypted email service provider, has now introduced a cryptocurrency wallet named Proton Wallet, which is currently in the testing phase and exclusively available to subscription users.

In a blog post, Proton revealed the rationale behind venturing into cryptocurrency and financial products. When Proton was established in 2014, the company attracted user sponsorship through crowdfunding.

Initially, Proton collected sponsorships via PayPal, only to have the funds unexpectedly frozen by PayPal—a practice not uncommon for the platform.

Although the funds were eventually unfrozen, the incident left Proton wary. Consequently, Proton has since allocated a portion of its financial reserves to Bitcoin, ensuring that unexpected circumstances do not leave the company financially strapped.

Turning back to Proton Wallet, this cryptocurrency wallet currently supports only Bitcoin and offers innovative features, such as the ability to transfer Bitcoin via email, treating email addresses as Bitcoin addresses.

Like most cryptocurrency wallets, Proton Wallet operates on a non-custodial basis, meaning that users have full control over their Bitcoins. Users can recover or transfer their Bitcoin wallet using a mnemonic phrase, with Proton unable to access user Bitcoin accounts.

At this stage, Proton Wallet is available for early bird and lifetime license users to preview. Other users must join a waitlist and will receive an invitation from Proton as access is gradually expanded.

The pricing details for Proton Wallet remain unclear, as Proton typically charges for most of its products, with free versions having limited functionality. Thus, it's possible that a free version of Proton Wallet may also have similar restrictions.